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10/19/2021, 9:14 PM (Source: TeleTrader)
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Fed's Waller: Tapering should start after November meeting

United States Federal Reserve Governor Christopher Waller stated on Tuesday that the tapering of asset purchases should start after the central bank's November meeting.

Waller said that he favors ending the taper by mid-2022, which would allow for an earlier interest rate hike if needed. Furthermore, he noted that if inflation stays high through 2021 more aggressive policy responses may be needed and that he would support an earlier liftoff if inflation is above 2% well into 2022.

On the overall economic rebound, Waller said that he expects the third-quarter gross domestic product (GDP) growth to slow down due to the pandemic and supply chain issues, but that it would rebound in the first half of 2022.

Baha Breaking the News (BBN) / OL